{"slug":"mo-dividend-increase-history","qid":"fcf_coverage","label":"fcf_coverage","post_title":"mo-dividend-increase-history","post_url":"/blog/mo-dividend-increase-history#q-fcf_coverage","columns":["fiscal_year_label","operating_cash_flow_bn","free_cash_flow_bn","dividends_paid_bn","fcf_coverage_ratio"],"rows":[{"fiscal_year_label":"2020","operating_cash_flow_bn":8.38,"free_cash_flow_bn":8.15,"dividends_paid_bn":6.29,"fcf_coverage_ratio":1.3},{"fiscal_year_label":"2021","operating_cash_flow_bn":8.4,"free_cash_flow_bn":8.24,"dividends_paid_bn":6.45,"fcf_coverage_ratio":1.28},{"fiscal_year_label":"2022","operating_cash_flow_bn":8.26,"free_cash_flow_bn":8.05,"dividends_paid_bn":6.6,"fcf_coverage_ratio":1.22},{"fiscal_year_label":"2023","operating_cash_flow_bn":9.29,"free_cash_flow_bn":9.09,"dividends_paid_bn":6.78,"fcf_coverage_ratio":1.34},{"fiscal_year_label":"2024","operating_cash_flow_bn":8.75,"free_cash_flow_bn":8.61,"dividends_paid_bn":6.84,"fcf_coverage_ratio":1.26},{"fiscal_year_label":"2025","operating_cash_flow_bn":9.29,"free_cash_flow_bn":9.07,"dividends_paid_bn":6.96,"fcf_coverage_ratio":1.3}],"shape":"table","sql":"SELECT\n    fiscal_year_label,\n    round(ocf / 1e9, 2)             AS operating_cash_flow_bn,\n    round((ocf - capex) / 1e9, 2)   AS free_cash_flow_bn,\n    round(divs / 1e9, 2)            AS dividends_paid_bn,\n    round((ocf - capex) / divs, 2)  AS fcf_coverage_ratio\nFROM\n(\n    SELECT\n        toString(fiscal_year)                                                   AS fiscal_year_label,\n        toFloat64(ifNull(any(net_cash_from_operating_activities), 0))           AS ocf,\n        abs(toFloat64(ifNull(any(purchase_of_property_plant_and_equipment), 0))) AS capex,\n        abs(toFloat64(ifNull(any(dividends), 0)))                               AS divs\n    FROM global_markets.stocks_cash_flow_statements\n    WHERE has(tickers, 'MO')\n      AND timeframe = 'annual'\n      AND toInt32OrZero(toString(fiscal_year)) >= 2020\n    GROUP BY fiscal_year_label\n    HAVING divs > 0\n       AND ocf > 0\n)\nORDER BY fiscal_year_label","computed_at":"2026-09-12T04:22:11.334049+00:00","elapsed":0.214265714}